We reiterate our target price of $1.00 per share, which is based on our risked NAV estimate of $1.12 per share and implies a 2016e target DACF multiple of 4.0x. Our risked NAV estimate of $1.12 per share remains relatively constant at this stage. We have assigned $0.41 per share to the Company core NAV, plus an incremental $0.71 per share of risked value associated with the 2015e and expected 2016e capital program at the Banarli License (100% WI). Our valuation of the Banarli License remains unc ....
